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XVII -32 - PUBLIC NOTICE Page Four <br />c. The statement must be headlined or captioned in a type <br />size no smaller than 8 point, as follows: "Analysis of <br />(City) municipal liquor store <br />operations for (Year) ". <br />d. The statement mist be written in clear and easily <br />understandable language, and must contain the following <br />information: Total sales, cost of sales, gross profit, <br />profit as percent of sales, operating expenses, operating <br />income, contributions to and from other funds, capital <br />outlay, interest paid, and debt retired. The specific <br />form is as prescribed by the State Auditor. <br />e. Special Option: The city has the option of incorporating <br />the liquor store financial statement into the general <br />published city financial statements, as described in <br />number 4 above. The particular form and style of this <br />incorporation will be as prescribed by the State Auditor. <br />6. Designation of the Official Newspaper: <br />The only formal procedure required of cities in order to <br />establish the official newspaper directs that the council <br />must, "annually at its first meeting of the year, designate a <br />legal newspaper of general circulation in the city as its <br />official newspaper, in which shall be published such <br />ordinances and other matters as are required by law to be so <br />published and such other matters as the council may deem <br />advisable and in the public interest to have published in this <br />manner." (Minnesota Statute 412.831). In designating the <br />official newspaper, cities must still follow the priorities <br />described in Minnesota Statute 331A.04, relating to <br />designation of newspapers for official publications by <br />municipalities. (For further details on this, see Manual Item <br />XVII -31). <br />Effect of Home Rule Charters: In some cases, cities have here rule charters, <br />which occasionally may affect the requirements described above. This does <br />not occur very often, and if the issue is raised, it would be best to consult <br />either with Central Office or with an attorney familiar with this area of the <br />law. Possible variations of this question are beyond the scope of this <br />outline. <br />18 <br />